麻豆影视

Skip to main content

Clean fuel standards allow companies to get both tax credits and sell carbon credits

A de-commissioned pumpjack is shown at a well head on an oil and gas installation near Cremona, Alta., on October 29, 2016. THE CANADIAN PRESS/Jeff McIntosh A de-commissioned pumpjack is shown at a well head on an oil and gas installation near Cremona, Alta., on October 29, 2016. THE CANADIAN PRESS/Jeff McIntosh
Share
OTTAWA -

Canada's new emissions standards for gasoline and diesel will allow oil companies that get a federal tax break for installing carbon capture and storage systems to generate credits based on those systems, which they can then sell to refineries and fuel importers.

Cabinet approved the final regulations for the Clean Fuel Standard last week and The Canadian Press obtained them Monday ahead of their intended publication July 6.

Gasoline and diesel suppliers can meet the new emissions standards for the two fuels in multiple ways, including buying credits from other companies that produce renewable fuels, build electric vehicle infrastructure or reduce emissions when fuels are extracted.

Oil companies that get a new federal tax credit of up to 60 per cent of the cost of installing carbon capture and storage systems can also generate and sell credits for use within the clean fuel standard credit system.

The Canadian Fuels Association says it has long supported the Clean Fuel Standard because it helps companies plan and invest in low-carbon technologies, but wouldn't comment on the final version of the regulations until the government officially releases them.

Greenpeace Canada's senior energy strategist Keith Stewart says the clean fuel standard isn't going to generate any new emissions cuts and will instead create new revenue sources for big oil producers.

This report by The Canadian Press was first published June 28, 2022.

CTVNews.ca Top Stories

Two nephews of the beloved Harry R. Hamilton share stories about his life and legacy.

The union representing some 1,200 dockworkers at the Port of Montreal has overwhelmingly rejected a deal with their employers association.

Local Spotlight

For the second year in a row, the 鈥楪ift-a-Family鈥 campaign is hoping to make the holidays happier for children and families in need throughout Barrie.

Some of the most prolific photographers behind CTV Skywatch Pics of the Day use the medium for fun, therapy, and connection.

A young family from Codroy Valley, N.L., is happy to be on land and resting with their newborn daughter, Miley, after an overwhelming, yet exciting experience at sea.

As Connor Nijsse prepared to remove some old drywall during his garage renovation, he feared the worst.

A group of women in Chester, N.S., has been busy on the weekends making quilts 鈥 not for themselves, but for those in need.

A Vancouver artist whose streetside singing led to a chance encounter with one of the world's biggest musicians is encouraging aspiring performers to try their hand at busking.

Ten-thousand hand-knit poppies were taken from the Sanctuary Arts Centre and displayed on the fence surrounding the Dartmouth Cenotaph on Monday.

A Vancouver man is saying goodbye to his nine-to-five and embarking on a road trip from the Canadian Arctic to Antarctica.